Abstract
Regulation of financial services is crucial to ensure the integrity of the financial system. Since governments have the responsibility of regulating such services, it is essential to look into them and how they affect the structure and working of the financial market of that State.There are essentially four approaches to supervision, namely, Institutional, Functional, Integrated and Twin Peaks. France, at present, follows a variation of the twin peaks model. But, since the adoption of the latest banking reforms, the status of these regulations are in doubt. Here, we will analyze the impact of the new regulatory mechanisms and understand the consequences of the same.
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